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Well, unfortunately I think Bootup Labs had to respond to the claim that they "had no money".

• jacquesm 17y ago
  It seems that much was true though, at least it was at the time. When you commit to funding 7 start-ups you have to have the full amount for that sitting in the bank. If you have only enough to fund four then the correct claim would be 'not enough money to cover all investments', which is only a small step from 'no money' since it depends on which startup you're looking at whether or not they have money. If there had been only three start ups and 0 money then the situation as far as those three startups is concerned would be exactly the same. It's not for them to look in to the bank accounts of their investors, but if you're not getting what is promised then 'you have no money' turned out to be a pretty good guess at the state of affairs. "Not enough money" would have been more accurate though.